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Bauxite prices set to surge, Alufer predicts

April 30, 2012 - 10:26 GMT Location: Johannesburg

KEYWORDS: Alufer , bauxite , aluminium , China , India , Guinea , Bel Air , Labé , IPO

The price of bauxite, the raw material for aluminium, is set to surge as the market undergoes a similar journey to that of iron ore, according to bauxite junior miner Alufer, which plans to list on London’s Alternative Investment Market in mid-May.

"The fundamentals are exceptionally strong for bauxite. Our listing in London – and we are the first pure bauxite company –is only the start of many more to come," said Adonis Pouroulis, the executive director and founder of Alufer, which has bauxite assets in Guinea. Pouroulis sees Guinea bauxite prices of about $35 per tonne, while alumina from Guinea would cost about $400 per tonne. Therefore, he argued, a big surge in bauxite prices is inevitable. "Today [bauxite] is a standalone commodity. We see pure iron ore producers in the market, selling iron ore and maximising the value from the commodity. Bauxite is the new iron ore," Pouroulis said. Alufer has 3 billion tonnes of bauxite resources in Guinea, and plans...

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